IkanBilisCapital

Correction should be AUDUSD. Risk on pairs to see gains

Long
FX:AUDUSD   Australian Dollar / U.S. Dollar
The aussie dollar saw itself correct to the downside after an amazing in the last week of August. We think that the correction is over and the risk on pairs like AUDUSD looks set to blast off to the upside.

BULL CASE
Targets lie at 0.76 where we could see another bout of consolidation before even more upside.

BEAR CASE
If price continues to correct to the downside, we see strong support at 0.730, after which we expect our upside targets to be achieved.